Adjusting principal and interest values in mortgage account
Options
ftessler
Member ✭✭
I set up a mortgage account for a new home loan. Payments to my FI are automatically deducted from my checking account each month. I want to match those with register entries from the mortgage account so I don't have to enter the principal, interest, and escrow values every time. But after plugging in all the loan details, the principal and interest for the first payment were off by a few dollars, though the total payment was correct. Any idea why this might be happening and how to correct it? The P and I numbers are not editable. Thanks.
0
Best Answer
-
You should be able to go into your Checking Account and find the payment to your FI. You can then alter the Splits to adjust the P&I to their correct amounts. Once you correct all your past payments with the correct P&I, the future ones should calculate correctly.
- Merg5
Answers
-
You should be able to go into your Checking Account and find the payment to your FI. You can then alter the Splits to adjust the P&I to their correct amounts. Once you correct all your past payments with the correct P&I, the future ones should calculate correctly.
- Merg5 -
There was only one payment so far, which I had entered manually in my checking account and distributed to appropriate categories (P, I, escrow). I added transfers to the mortgage account, so hopefully all the numbers will be correct for the next payment. I have to say, though, this was more straightforward when I used to do it for a previous loan using a much older version of Quicken. Thanks!0
This discussion has been closed.